AIG Insurance: Review, Coverage Options, and Ratings

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AIG Insurance Review 2021

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4 Rating from The Zebra

American International Group, Inc., more commonly known as AIG, has provided a variety of insurance products since 1919. Perhaps best known for its commercial and life insurance options, the New York City-based company is among the largest insurers in the world, with offices in 80 countries. AIG offers home and auto coverage options in the United States tailored to the needs of higher-net-worth individuals.

Read The Zebra's review of AIG’s home, condo, and car insurance options, including coverage offerings, ratings, and overall customer satisfaction.

JD Power Rating — Below Average: The company is rated by JD Power as slightly below average for its homeowners insurance offering, gaining 2 out of 5 stars. Its auto coverage is unrated by JD Power.

Financial strength — Excellent: The financial rating organization A.M. Best gives AIG an “A,” meaning the company is financially sound and should have no trouble paying out claims. 

NAIC Rating — Above Average: The National Association of Insurance Commissioners reported far fewer complaints than the average insurance provider.

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AIG auto insurance coverage options

AIG private client group auto insurance provides all of the standard coverage options that you would expect from a major carrier, only with a bit of a luxury spin. Most AIG auto insurance clients of AIG auto insurance are covering vehicles that are rare or carry a high price tag. Therefore, the company has some unique available coverage options. 

Liability coverage is a core part of AIG's car insurance offering. This required coverage steps in to provide protection in the event you are found liable for damages to another party, such as through an at-fault accident. The company offers very high liability limits which further protects policyholders and their assets. These limits can be as high as $1 million per occurrence. AIG also offers an umbrella policy with limits of up to $100 million. 

Coverage options unique to AIG auto insurance:

  • Worldwide liability coverage: AIG auto insurance policies cover you no matter where in the world you travel, something that most standard carriers do not offer.
  • High liability limits:With AIG car insurance, you can maintain liability coverage limits of up to $1 million per occurrence.
  • Original manufacturers’ parts: Provided the original parts of your vehicle are still in production, you can expect AIG to cover the replacement of original factory parts for your car.
  • Agreed value: If your car is totaled by a covered loss, you'll receive a payout in the amount agreed upon at the beginning of your policy. This means that depreciation is not factored in.
  • Cash settlement option: AIG insurance gives the option of a cash settlement in the event that a covered loss results in at least damage of 50% or more than the agreed value.
  • New vehicle replacement option: AIG gives you options on how to replace a totaled new car. Within the first three years of the purchase of your vehicle, you have the following options: receive the initially agreed-upon value, replace it with a vehicle from the same make, model, and year, or get a new car of the same make and a similar model.
  • 360° support:AIG will cover personal belongings that are stolen or damaged. They will also cover living expenses if you are stuck far from home. Even your family pet is protected under AIG’s coverage. 
  • Rental car reimbursement: AIG provides rental reimbursement of up to $12,500 with no per-day limit. 


AIG home insurance coverage options

AIG home insurance is designed for clients with luxury or high-value homes. The standard coverage options apply, including coverage for your dwelling, personal property, other structures, loss of use, and personal liability. The company anticipates the needs of its customers, offering a number of unique coverage options that typical insurance providers simply cannot provide. Their proactive loss prevention, for instance, includes services meant to stop losses before they occur. Examples of this include water damage protection, background checks for domestic staff, and wildfire and hurricane units that can help in the event of a natural disaster.

Among other benefits, AIG rolls out the following perks for its customers:

  • Landscaping coverage:Coverage is provided for landscaping or lawn features.
  • International home coverage: AIG’s worldwide reach allows for coverage of properties owned internationally.
  • Pet damage: Unlike most homeowners insurance policies, AIG insurance covers damage done by household pets.
  • Top-quality replacement: In many cases, AIG can rebuild your home on its original location, matching it to your home's original standard, even if your policy limits are exceeded in the process.
  • Cash option: There is no obligation to have your home replaced or repaired, as you can instead take a cash option. 
  • No depreciation for your personal property: Damaged personal belongings can be replaced or repaired without depreciation being factored in.
  • Additional living expenses: If your home is rendered uninhabitable, AIG covers your living expenses.


AIG Family CyberEdge

AIG takes cybersecurity very seriously. As an add-on to your homeowners coverage, the company offers a broad range of options that put your family’s online security at the forefront. The company partners with cybersecurity companies to help you stay ahead of online threats and to keep your identity safe. Highlights of the coverage include:

  • Data restoration
  • Cyber extortion coverage
  • Crisis management and reputation restoration
  • Cyberbullying expenses
  • Identity monitoring
  • Cyber assistance services


AIG condo insurance

AIG’s condo and co-op insurance offerings are — similar to its homeowners insurance — designed with the high-value property in mind. AIG customizes coverage for condo owners in the following ways: 

  • Home contents replacement: Damaged personal property can be repaired or replaced with new items, with no deductions for depreciation.
  • Additions and alterations: Coverage is available for improvements made to your unit, such as kitchen renovations, customized windows, or upgraded flooring.
  • Loss assessment: AIG provides up to $100,000 for your portion of a covered loss to common areas.
  • Building ordinance: AIG can pay for upgrades required by local building ordinances during the rebuilding process. This means that you won’t be responsible for costs associated with required changes directly linked to property damage.
  • Additional living expenses: As with its homeowners coverage, AIG covers living expenses if your home becomes uninhabitable, including loss of income if the home is rented to tenants.


AIG insurance discounts

AIG does not provide information on car or homeowners insurance discounts.


Additional lines of insurance

In addition to its home and car insurance offerings, AIG Private Client Collect offers many different coverage options: 

  • Life insurance
  • Excess flood
  • Yacht coverage
  • Private aviation
  • Kidnap, ransom, extortion coverage
  • Excess liability
  • Equine insurance (liability and equipment coverage)
  • Private collections


Is AIG right for you?

When considering insurance options, the first question that you’ll need to ask yourself is about the level of coverage that you need. If you do not have high-value vehicles or live in a luxury home, AIG may not be the right option for you. The average insurance customer doesn’t have a need for such elaborate coverage options. However, if you have significant assets, AIG provides robust coverage that can follow you around the world.

While JD Power doesn’t give them the highest rating, the company does receive fewer complaints than is average. However, for high-net-worth individuals, the cost of your policy is still a factor. You'll want to make sure that you get the best coverage at a price that is fair. Getting insurance quotes from a variety of companies is a good way to get an idea of what coverages are available.

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Ross Martin
Ross MartinManager, Content Quality

As a licensed insurance agent, Ross researches and writes insurance content intended to help users make informed decisions.

Ross's background is in writing and education. He holds a master's degree from Royal Holloway, University of London.

Ross's work has been cited by The New York Times, Investopedia, The Simple DollarThe BalanceCar and Driver and Fox Business. He has been quoted by CNET, I Drive Safely and Kin Insurance

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